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LTL subsidiary has re-filed for voluntary Chapter 11 bankruptcy protection to obtain approval of a reorganization plan to resolve litigation.
April 5, 2023
By: Christine Esposito
Editor-in-Chief
Johnson & Johnson has agreed to contribute up to $8.9 billion, payable over 25 years, to resolve all current and future talc claims. The news came with the announcement that its subsidiary LTL Management LLC (LTL) has re-filed for voluntary Chapter 11 bankruptcy protection to obtain approval of a reorganization plan that will equitably and efficiently resolve all claims arising from cosmetic talc litigation against the company and its affiliates in North America. The $8.9 billion is an i...
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